New Age of RetirementKarin Liu
Retirement is a season of life to relax and reflect on the many years of hard work that led you to this enjoyable time. If properly asserted years in advance, this transition out of the work force should be exciting and stress-free. However, there are many factors that need to be considered when planning for your financial future.
Things to Remember
Use an updated formula to plan for these extra years
Work with a financial advisor to prepare for your retirement
Invest now to maximize your funds for the future
Work hard now, make knowledgeable investments to reach retirement at target age (regardless of the extra years of funding)
Plan for the unexpected (medical issues, economic crisis, inflation)
Build an appropriate plan for your lifestyle
It’s one thing to not be able to buy your dream vacation home in retirement, it’s another thing to not have the allocated funds to survive through retirement
Times are constantly changing, and usually an increase in cost of living is predictable. But, here we have other factors to consider with a major concern being an increase in life expectancy. Now, we must consider all factors associated with living longer at a comfortable level when designing financial plans for the future.
Currently in retirement, people are struggling with this issue of making their money stretch over these unaccounted years when planning their financial future decades ago. Learning from history, individuals planned for their retirement based off a formulated plan to save and build a retirement fund correlating with one’s current financial stability and the comfortable lifestyle once retired. However, many using a formula designed years ago did not prepare for an increase in life expectancy, and today are struggling to make their money stretch and are being forced to surrender luxuries they once planned for. By noting and building your retirement plan with these factors included, you can better predict your future needs.
With the progressive nature of health care and scientific research constantly evolving, it should not be surprising that the human race is living longer. We have medicine, cures and innovative machinery that support healthy, longer lives. Understanding these additional years of life, we must prepare to survive longer at a comfortable rate. Do we work longer to supply for retirement or can we plan ahead to maximize our working years and hit retirement around the current target age? At Investors Trust, our innovative nature allows us to provide options to maximize your money now to live comfortably in the future. We want to give you the tools needed to plan and enjoy those extra years of retirement previous generations weren’t given. Work hard now, make smart investing decisions and plan for your retirement with the extended time included, so you can retire at the same average age.
When considering your length of retirement, financial advisors suggest assuming and preparing to live into your mid-90s1 . Falling short of your expected retirement dreams, such as a vacation home or a gorgeous sailboat, is not a fearful concern when your allocated money is running out and your health is persevering. At Investors Trust, we want to provide you the tools and expert advice to help you prepare now, so you can live a full enjoyable retirement and even obtain your dreamful desires.
It can be extremely challenging to plan for events so far in advance; this is why we want to provide you with appropriate products, proper devices and knowledgeable advisors to help guide decisions today that you can benefit from in the future. By studying the history of the market and applying estimated demands and rates in the future, you can better build an investment plan to provide for years down the road.
1According to the USAA
Source: USAA website
The views expressed are those of the author(s) and are subject to change at any time. These views are for informational purposes only and should not be relied upon as a recommendation to purchase any security or as a solicitation or investment advice from the Advisor. Although the information provided to you on this material is obtained or compiled from sources we believe to be reliable, Investors Trust cannot and does not guarantee the accuracy, validity, timeliness or completeness of any information or data made available to you for any particular purpose.
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